Vespa Capital-backed Catalis Group is expanding its North American footprint with a second bolt-on acquisition completed during the Covid-19 pandemic.
Curve Digital, part of the Catalis Group, has bought Vancouver-based IronOak Games, an independent games developer. Curve Digital is a video games publisher based in London.
IronOak Games, headed up by Gordon Moran and Colby Young, was founded in January 2015 and it has previously collaborated with Curve Digital on the critically acclaimed title For The King, a game published for PC, Xbox One, PlayStation 4 and Nintendo Switch.
The deal forms part of Curve Digital’s wider strategy of acquiring independent game development studios with established IP. It also marks Catalis Group’s second bolt-on acquisition supported by Vespa Capital and NorthEdge during the pandemic. Testronic acquired Whyttest, a technical services provider with studios in Serbia and Romania in August.
IronOak’s Vancouver office adds to Catalis Group’s North American presence, which also includes offices in Los Angeles and the recently opened Testronic office in New Orleans.
Jason Perkins, Managing Director at Curve Digital, said: “Our goal, since 2013, has been to become the main choice in publishing for independent studios worldwide and as we evolve, so do our relationships with development partners. IronOak share the same values and goals as we do, so it made sense for the team to join the Curve family.”
Dominic Wheatley, Catalis Group Chief Executive, added: “We are really looking forward to working alongside the IronOak team to expand the For The King IP. This acquisition, again supported by Vespa Capital and NorthEdge, is another sign of our commitment to continued growth. As a fast growing, ambitious publisher Curve is looking at more acquisitions and encouraging developers that might want to work with us to reach out.”
Catalis advisors included DWF and Miller Thomson (legal counsel) and Grant Thornton (tax).
IronOak and management advisors included Voyer Law Corporation (legal) and Branham & Company (financial).